Venezuela devalues its currency and backs it with crypto. On Saturday, Venezuelan President Nicolas Maduro devalued the country’s currency, the bolívar, by 95% and tied it to the government’s oil-backed cryptocurrency, Bloomberg says. The new currency will be called the sovereign bolívar.

Money is pouring into Turkish stocks. Investors bought $US191 million worth of Turkish equities last week, the biggest inflow since 2013, as the country’s currency, the lira, continued to fall.

It looks like ‘Y2K all over again’ for stocks. The choppy six-month recovery from the February correction has eerily mirrored the five-month upswing that followed the stock-market meltdown of March-April 2000 – which led to the bursting of the dot-com bubble.